Member Info for Pianista

Small disposal (proceeds £12,500) by PDMR "in respect of tax planning".

No doubt to use up this year's annual CGT allowance.

Certainly has the best (the most apt) name in the market! That alone must be worth a few p on the SP!

"[Simon, ex CEO] would work with [the incoming CEO] to 'breathe new life into the [AA] brand'." Sounds promising for Smart Breakdown.

What's happening at the AA? Seen nothing different on the website.

Smart move, instigated perhaps by their new broker. Investing in its own undervalued shares is a lot better than having the cash sitting idle. Small beer in absolute terms, but significant relative to average trading volume. This purchase, and the prospect of further purchases, should at last inject some life into the SP.

...would normally be full year prelims in July, which is 4 months away. We could really do with something before then. My money's on May.

RNS today confirms it was Gatemore who were involved in the share transactions for 11.4m shares. They sold 11.4m, but have maintained their % interest through a CFD. Presumably there's an unknown buyer for the 11.4m shares ( = just under 2%).

There was an RNS re IKEA on 28 September 2017:

"Major New Contract with IKEA Limited

DX, the independent parcels, mail and logistics operator, is pleased to announce that it has agreed a major new contract with IKEA Limited ("IKEA") to provide a bespoke logistics solution for customer deliveries. The contract is for an initial three years and takes the total value of the Company's contracted logistics work for IKEA to approximately £19m per annum.

DX already provides IKEA with a flexible, bespoke logistics solution to support IKEA's online sales in two regions and its store business in Reading. The Company will now support IKEA's sales across seven additional stores.

DX will operate dedicated service centres, situated in close proximity to each IKEA store, to support the enlarged contract and will offer same-day 2-man deliveries, advanced booking and a returns service. Management believes that the flexibility of DX's delivery solution is market-leading in the logistics market, enabling its customers to improve their proposition and enhance customer service levels and quality."

12/4 is just when driving tests resume, I think. No TU expected AFAIK.

So By Miles have been using both Redtail and Trakm8, but only is Trakm8 mentioned in the article.

The most relevant/positive quote from the article is surely "...we’ve [ByMiles] worked with Trakm8 to launch a new one-of-a-kind feature...". It looks like the box must be white-labelled.

You're welcome.

Knowing the unreliability of trade data on this website, and since the prices of the two deals were slightly different even though only seconds apart, I'd say it was probably a sale and purchase by entities within the same organisation, eg Gatemore - in which case there won't be an RNS.

Well spotted portswigger! Identical numbers of shares purchased, so probably both by the same purchaser. If so, 4% in total, so should get an RNS today or tomorrow.

Bottom line is that we're both confused!

Tyma - the proforma balance sheet does show an asset of £444k for a CBIL, but a CBIL is a liability, so there must be an element of the CBIL elsewhere in the balance sheet - though it's not clear to me where - the net of the two being the CBIL liability of £933k presumably (because a recent RNS said they'd repaid £500k, with £433k remaining outstanding).

Lombard haven't sold any shares. Their % holding dropped below 5% purely as a result of the increase in the number of CRU's issued shares from 83m to 86m, following the acquisition of CPL for a mix of cash and shares.

Yes, they may well declare a dividend, and it would make sense at the same time to clarify the group's current strategy. They'll certainly be anxious to get the cash pile working in some way or another.

Shareholders funds at completion of disposals per pro-forma balance sheet at 31/10/20 were £13.6m.

Freehold property was in at £2.5m, but is to be revalued upwards, to say £3m.

Earnings of the sold companies in the 4 months from 31/10/20 to completion, based on annual revenue of £18m, would be at least £0.3m. The retained companies will similarly have earned maybe £0.2m.

There is still £1.5m of goodwill, but I’m assuming that properly reflects the additional value of all the other assets were they to be sold as part of a going concern (as was the case for the sold companies, where the associated goodwill was in effect sold at a profit).

The upshot is an estimated asset backing of £14.6m, or with 86m shares now in issue, c17pps.

With the SP stuck at 11.5p, it looks like the only way is up, but only when the market is good and ready…which might not be till the next RNS (prelims in July?), unless in the meantime the new NOMAD puts out a bullish broker note.

9% rise on the day as currently shown on this website would be very nice, but it seems to be based on the 30p ask price.

All we can be sure of is that the shares definitely did tick up today.